Dewan Housing Finance Corp independent director V K Chopra resigns

Dewan Housing Finance Corporation Ltd (DHFL) said Monday its independent director V K Chopra has resigned.

The board of directors of the company has accepted his resignation with effect from March 11, the company said in a filing to the BSE.

The tenure of V K Chopra as an independent director was due to expire on March 31, 2019. Shareholders of the company on March 4 had approved a resolution for his re-appointment as independent director after expiry of his tenure.

"V K Chopra (DIN: 02103940) an Independent Director on the Board of Directors of the Company, has expressed his desire to resign from the position of an Independent Director vide his letter dated March 11, 2019. The Board of Directors of the Company have accepted his resignation with effect from 11th March, 2019," the company said.

DHFL noted that it is in the process of strengthening its governance structure by appointing new independent directors and reconstituting its Board Committees and shall announce the same by March 31, 2019.

The company is under the scanner of various authorities following allegations of siphoning off Rs 31,000 crore out of total bank loans of Rs 97,000 crore through layers of shell companies.